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27 Jun 2023
A contentious situation has arisen in Hyderabad, as a villa project undertaken by Greater Infra Projects and allegedly owned by a BRS corporator faces scrutiny for potential violations and encroachment on a water body in Bollaram village. The National Green Tribunal (NGT) has ordered investigations by the Hyderabad Metropolitan Development Authority (HMDA), the Sangareddy district collector, and the Ministry of Environment and Forests. Both sides have denied the allegations and exchanged accusations of technical errors and misidentification. As the legal battle intensifies, the fate of the villa project and the disputed water body remains uncertain.Read more
22 Jun 2023
Kokapet Lake, once a pristine waterbody, has suffered from pollution and shrinkage as a result of rapid construction activities in the surrounding area. The lake has become cluttered with debris, solid waste, and algae, and its size has significantly reduced. The lack of a proper sewage system and flawed masterplan on the hydrology of the lake are contributing factors. Local residents are concerned about the government land auction in Kokapet, which may worsen the situation. Experts warn of the potential for urban flooding and emphasize the need for measures such as a Sewage Treatment Plant to address the issue of sewage pollution.Read more
21 Jun 2023
In Hyderabad's GO 111 region, real estate developers are undeterred by the absence of a master plan from the Hyderabad Metropolitan Development Authority (HMDA). Filing applications for change of land use (CLU) from agriculture to non-agriculture, developers envision creating sought-after gated communities in areas like Janwada, Mokila, Chevella, Ameenpur, and Gandipet. However, concerns arise as structures encroach upon lakes and water channels, prompting experts like BV Subba Rao to emphasize the need for stricter land use regulations. As stakeholders await the release of a comprehensive master plan, the ongoing surge in real estate development highlights the delicate balance between urban growth and environmental preservation.Read more
21 Jun 2023
In Hyderabad's developing Kokapet neighborhood, Sattva Group has launched Sattva LakeRidge, its newest residential development. Six high-rise towers make up the project, which comprises 897 opulent apartments with three to five bedrooms. Elegant architecture, first-rate amenities, and an IGBC Gold rating for its eco-friendly initiatives are all features of Sattva LakeRidge. The project is a desirable option for prospective purchasers seeking opulent and modern living spaces in Hyderabad's flourishing real estate market because of its strategic position and close proximity to utilities, educational institutions, healthcare facilities, and entertainment options.Read more
19 Jun 2023
Hyderabad's residential property market thrived in May 2023, with 5,877 registrations, a 31 percent increase from the previous month. The total value of registered properties also rose by 31 percent to INR 2,994 crore. The market saw demand for properties between 1,000 and 2,000 sq. ft, with the Medchal-Malkajgiri district leading in sales. Prices showed a YoY increase of 3 percent, with Hyderabad experiencing the highest surge at 8 percent. Buyers showed interest in larger, high-value homes with better amenities. The market remains strong, driven by the RBI's decision to hold interest rates and buyers' preferences for spacious properties.Read more
15 Jun 2023
IndoSpace Core, India's leading logistics and industrial real estate vehicle, has successfully acquired the Amazon Fulfilment Centre located in Hyderabad, strengthening its nationwide presence. This marks IndoSpace's inaugural acquisition in the city, further solidifying its position in the market. The acquisition adds a substantial 0.8 million square feet to IndoSpace's portfolio, bringing their total advanced logistics and industrial infrastructure to an impressive 58 million square feet across 51 parks in India.Read more
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30 May 2023
Hyderabad's real estate sector is grappling with a mounting crisis of illegal constructions, revealed by a GHMC survey stating 7,000 to 8,000 unauthorized structures sprout annually. The city, still reeling from last month's demolition of 200 illegal homes in Bandlaguda's Crystal Township, faces the looming spectre of similar incidents. Homebuyers express shock and frustration, while experts advise due diligence. Amid an influx of 300 to 400 monthly complaints, GHMC's town planning department struggles with severe understaffing. This surge in illicit townships calls for a more rigorous regulatory framework and vigilant purchasing decisions by prospective homeowners.Read more
26 May 2023
The Greater Hyderabad Municipal Corporation (GHMC) has revealed that the state and central governments are the top defaulters of property tax in Hyderabad, with a combined outstanding balance of approximately Rs 6,000 crore. The state government owes over Rs 5,500 crore, while the Centre owes around Rs 300 crore. Despite regular demand notices, the government departments have only disbursed a small fraction of their outstanding payments. The GHMC is responsible for imposing property taxes in Hyderabad, which contribute to local amenities and services.Read more
16 May 2023
The landmark Victoria Zenana Hospital in Hyderabad, the city's first all-women hospital, is slated for demolition this month to accommodate a new multi-level parking lot for the Telangana High Court. Despite government approval for the demolition, heritage conservationists insist the 120-year-old building could be repurposed. The decision to raze the site, which once housed pioneering women doctors and is a notable example of Indo-Saracenic architecture, has sparked intense debate about the need for urban development versus the preservation of historical heritage.Read more
15 May 2023
The failure of civic bodies in Hyderabad to ensure that traffic carrying capacity of a road is assessed before giving permission for a new building has left many residential areas choked under vehicle pressure. Builders are not conducting mandatory Traffic Impact Assessment (TIA) when seeking building permissions, and the Greater Hyderabad Municipal Corporation and other ULBs within Hyderabad Metropolitan Development Authority are not strict about conducting traffic studies. With permissions being given freely, small by lanes are turning into major bottlenecks, causing gridlock and making it difficult for residents to access their homes.Read more
14 Mar 2023
PropsAMC, the asset management services and data intelligence division of Square Yards claims to have raised over Rs 100 crores for its first Grade A commercial project in Hyderabad. The project is Square Yards' first foray into the fractional product sector, and it received an average financial contribution of INR 40 lakhs from a group of more than 250 investors amounting to more than 100,000 square feet. Investors in the Hyderabad commercial property have been told they will receive 8% gross returns on their capital with an expected XIRR of 14-15%, post fees and before taxes.Read more
01 Jan 1970
GMR Hyderabad International Airport Ltd (GHIAL) has launched a INR 5,843 crore expansion at Rajiv Gandhi International Airport to meet rising traffic. The plan includes a new 225,000 sq. m terminal primarily for domestic use, a 3,800-meter runway for low-visibility operations, and a 650-meter cross taxiway for wide-body aircraft. Aircraft stands will increase to 163 and parking bays to 5,590. A second cargo terminal (50,000 MT capacity) costing INR 160 crore is set to open by July. The existing terminal is also being expanded at INR 427 crore. A 31-km metro line from Mindspace to the airport is planned to boost access, with GHIAL supporting the initiative. AERA will determine revised tariffs.Read more
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